" begins right now. >>> hi, i'm bill o'reilly. thanks for watching us tonight. president obama again addresses terrorism and that is the subject of this evening's talking points memo late this afternoon. president once again talked about the failure to stop the underwear bomber on christmas day. the address was supposed to contain sharp analysis, perhaps a firing or two. it did not. instead the president mostly repeated his opinion that the federal counterterrorism operation pretty much failed across the board, but no individuals will be held responsible. >> now at this stage in the review process, it appears that this incident was not the fault of a single individual or organization, but rather a systemic failure across organizations and agencies. >> can we have a moratorium on systemic failure, please? i don't want to hear it. do you want to hear it again? no one wants to hear that again. it may be true. we've heard it 5,000 times. all right. then the president we want on to state the obvious, that america is at war with al-qaeda. >> let's be clear about what this moment demands.